Zacks: Brokerages Anticipate Anika Therapeutics Inc. (ANIK) Will Announce Earnings of $0.44 Per Share
Analysts predict that Anika Therapeutics Inc. (NASDAQ:ANIK) will announce $0.44 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Anika Therapeutics’ earnings, with estimates ranging from $0.42 to $0.47. Anika Therapeutics posted earnings per share of $0.57 in the same quarter last year, which would indicate a negative year-over-year growth rate of 22.8%. The firm is expected to announce its next earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Anika Therapeutics will report full year earnings of $1.84 per share for the current fiscal year, with EPS estimates ranging from $1.79 to $1.88. For the next financial year, analysts forecast that the business will report earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.73. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Anika Therapeutics.
Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, May 3rd. The biotechnology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.01. The business had revenue of $23.39 million for the quarter, compared to analyst estimates of $23.89 million. Anika Therapeutics had a net margin of 29.81% and a return on equity of 14.29%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share.
Separately, Zacks Investment Research raised shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th.
In other Anika Therapeutics news, Director Jeffery S. Thompson sold 10,725 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $47.39, for a total transaction of $508,257.75. Following the completion of the transaction, the director now owns 15,845 shares of the company’s stock, valued at approximately $750,894.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles H. Sherwood sold 14,201 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $50.03, for a total transaction of $710,476.03. Following the transaction, the chief executive officer now directly owns 246,740 shares of the company’s stock, valued at approximately $12,344,402.20. The disclosure for this sale can be found here. 6.57% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Anika Therapeutics by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 2,872 shares of the biotechnology company’s stock worth $141,000 after buying an additional 1,272 shares in the last quarter. Mason Street Advisors LLC raised its position in Anika Therapeutics by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,423 shares of the biotechnology company’s stock worth $149,000 after buying an additional 228 shares in the last quarter. Victory Capital Management Inc. raised its position in Anika Therapeutics by 68.4% in the first quarter. Victory Capital Management Inc. now owns 3,452 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,402 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Anika Therapeutics during the first quarter worth $204,000. Finally, Koch Industries Inc. purchased a new position in Anika Therapeutics during the first quarter worth $206,000. 80.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Anika Therapeutics (NASDAQ ANIK) traded down 0.18% during mid-day trading on Friday, hitting $48.86. The stock had a trading volume of 10,287 shares. The stock has a 50-day moving average price of $47.52 and a 200 day moving average price of $46.96. The stock has a market cap of $715.99 million, a P/E ratio of 23.58 and a beta of 1.69. Anika Therapeutics has a 52 week low of $41.38 and a 52 week high of $53.50.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
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